Segment information (Tables)

12 Months Ended

Dec. 31, 2018



For the Year Ended December 31, 2018 (in millions of U.S. dollars)	North America Commercial P&C Insurance			North America Personal P&C Insurance		North America Agricultural Insurance			Overseas General Insurance		Global Reinsurance			Life Insurance			Corporate			Chubb Consolidated
Net premiums written	$	12,485		$	4,674	$	1,577		$	8,902	$	671		$	2,270		$	—		$	30,579
Net premiums earned	12,402			4,593		1,569			8,612		670			2,218			—			30,064
Losses and loss expenses	8,000			3,229		1,111			4,429		479			766			53			18,067
Policy benefits	—			—		—			—		—			590			—			590
Policy acquisition costs	1,829			939		79			2,346		162			557			—			5,912
Administrative expenses	966			269		(9		)	1,014		41			310			295			2,886
Underwriting income (loss)	1,607			156		388			823		(12		)	(5		)	(348		)	2,609
Net investment income (loss)	2,033			236		28			619		257			341			(209		)	3,305
Other (income) expense	(25		)	1		2			—		(32		)	26			(406		)	(434		)
Amortization expense of purchased intangibles	—			13		28			41		—			2			255			339
Segment income (loss)	$	3,665		$	378	$	386		$	1,401	$	277		$	308		$	(406	)	$	6,009
Net realized gains (losses) including OTTI																	(652		)	(652		)
Interest expense																	641			641
Chubb integration expenses																	59			59
Income tax expense																	695			695
Net income (loss)																	$	(2,453	)	$	3,962



For the Year Ended December 31, 2017 (in millions of U.S. dollars)	North America Commercial P&C Insurance		North America Personal P&C Insurance			North America Agricultural Insurance			Overseas General Insurance			Global Reinsurance			Life Insurance			Corporate			Chubb Consolidated
Net premiums written	$	12,019	$	4,533		$	1,516		$	8,350		$	685		$	2,141		$	—		$	29,244
Net premiums earned	12,191		4,399			1,508			8,131			704			2,101			—			29,034
Losses and loss expenses	8,287		3,265			1,036			4,281			561			739			285			18,454
Policy benefits	—		—			—			—			—			676			—			676
Policy acquisition costs	1,873		899			81			2,221			177			530			—			5,781
Administrative expenses	981		264			(8		)	982			44			303			267			2,833
Underwriting income (loss)	1,050		(29		)	399			647			(78		)	(147		)	(552		)	1,290
Net investment income (loss)	1,961		226			25			610			273			313			(283		)	3,125
Other (income) expense	1		4			2			(4		)	(1		)	(84		)	(318		)	(400		)
Amortization expense of purchased intangibles	—		16			29			45			—			2			168			260
Segment income (loss)	$	3,010	$	177		$	393		$	1,216		$	196		$	248		$	(685	)	$	4,555
Net realized gains (losses) including OTTI																		84			84
Interest expense																		607			607
Chubb integration expense																		310			310
Income tax benefit																		(139		)	(139		)
Net income (loss)																		$	(1,379	)	$	3,861



For the Year Ended December 31, 2016 (in millions of U.S. dollars)	North America Commercial P&C Insurance			North America Personal P&C Insurance		North America Agricultural Insurance			Overseas General Insurance			Global Reinsurance			Life Insurance			Corporate			Chubb Consolidated
Net premiums written	$	11,740		$	4,153	$	1,328		$	8,124		$	676		$	2,124		$	—		$	28,145
Net premiums earned	12,217			4,319		1,316			8,132			710			2,055			—			28,749
Losses and loss expenses	7,439			2,558		893			4,005			325			663			169			16,052
Policy benefits	—			—		—			—			—			588			—			588
Policy acquisition costs	2,023			966		83			2,136			187			509			—			5,904
Administrative expenses	1,125			363		(6		)	1,057			52			307			183			3,081
Underwriting income (loss)	1,630			432		346			934			146			(12		)	(352		)	3,124
Net investment income (loss)	1,860			207		20			600			263			283			(368		)	2,865
Other (income) expense	(2		)	6		1			(11		)	(4		)	5			(217		)	(222		)
Amortization expense (benefit) of purchased intangibles	—			19		29			48			—			3			(80		)	19
Segment income (loss)	$	3,492		$	614	$	336		$	1,497		$	413		$	263		$	(423	)	$	6,192
Net realized gains (losses) including OTTI																		(145		)	(145		)
Interest expense																		605			605
Chubb Integration Expense																		492			492
Income tax expense																		815			815
Net income (loss)																		$	(2,480	)	$	4,135

The following table presents net premiums earned for each segment by line of business:




	For the Year Ended December 31
(in millions of U.S. dollars)	2018		2017		2016
North America Commercial P&C Insurance
Property & other short-tail lines	$	1,861	$	1,899	$	1,963
Casualty & all other	9,773		9,554		9,552
A&H	768		738		702
Total North America Commercial P&C Insurance	12,402		12,191		12,217
North America Personal P&C Insurance
Personal automobile	803		742		699
Personal homeowners	3,127		3,014		3,007
Personal other	663		643		613
Total North America Personal P&C Insurance	4,593		4,399		4,319
North America Agricultural Insurance	1,569		1,508		1,316
Overseas General Insurance
Property & other short-tail lines	2,134		2,076		2,133
Casualty & all other	2,429		2,266		2,177
Personal lines	1,784		1,609		1,626
A&H	2,265		2,180		2,196
Total Overseas General Insurance	8,612		8,131		8,132
Global Reinsurance
Property & other short-tail lines	123		132		118
Property catastrophe	170		198		185
Casualty & all other	377		374		407
Total Global Reinsurance	670		704		710
Life Insurance
Life	1,022		980		1,002
A&H	1,196		1,121		1,053
Total Life Insurance	2,218		2,101		2,055
Total net premiums earned	$	30,064	$	29,034	$	28,749